Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Greatland Gold (LON: GGP) shares are edging higher Tuesday after the company said the Juri Joint Venture with Newcrest Mining Limited will advance to Stage 2.
The move to stage 2 marks an extension and potential acceleration of the Juri JV exploration programme in the highly prospective Paterson province of Western Australia.
Also Read: Greatland Gold Stock Price Forecast
The first phase of a drilling programme was completed on the Paterson Range East and Black Hills tenements. Gold assays from the first four assayed holes of the Juri JV drill programme finding mineralisation at the Saddle Reefs target within the Black Hills licence in an intersection of 3.5m at 1.88 grams per ton of gold from 226.5m and the first gold identified at the Goliath Prospect including a significant assay of 1.0m at 1.49 grams per ton from 651m.
Samples from the remaining holes have been delivered to the laboratory and assays are expected to be available around November.
In addition, Greatland said investment under the Juri JV could increase from A$3m to A$20m.
Shaun Day, CEO of Greatland Gold, commented: “Advancing to Stage 2 of the Juri JV marks an important step forward which further demonstrates the confidence and financial commitment of our partner Newcrest. This progression follows a successful initial drill programme, where mineralisation was discovered, and additional rich geological information obtained in respect of existing and new targets.
“This additional investment enables Greatland to expand and accelerate the 2022 Juri exploration programme without the need to self-fund this activity.”
Greatland Gold shares are currently up 0.8% at 17.74p.
Greatland Gold shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are GGP shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .